Condition 1: MC curve cuts the Price line from below. Condition 2: MR is equal to MC Are these conditions sufficient for a firm in a perfectly competitive market to find out the maximum profit level of output?

Yes, they are sufficient No, these conditions are wrong No, these conditions are right and there is a third condition also Can’t say with surety

No, these conditions are right and there is a third condition also

For the firm to continue to produce, in the short run, price must be greater than the average variable cost (p > AVC); in the long run, price must be greater than the average cost (p > AC)